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In Money Matters

Meal Delivery giant achieves healthy order growth, but the profits are lagging behind

12th October 2021 David Stevenson

Meal Delivery giant achieves healthy order growth, but the profits are lagging behind Pin It
Just Eat Takeaway.com N.V. (TKWY.AS)

Just Eat Takeaway.com Just Eat Takeaway.com N.V. (TKWY.AS) has again achieved very healthy order growth in the third quarter of this year, despite a difficult basis of comparison.

In recent quarters, we have seen higher than expected growth rates and we expect a very healthy order growth in the third quarter.

We expect order growth of 34+ percent in the third quarter, while it was 37 percent in the second quarter. In particular, delivery growth will decrease from 78 percent in the second quarter to 66 percent in the third quarter. The slowdown is mainly due to the contribution of Just Eat in the third and fourth quarters of 2020.

There will be a very strong performance in the UK, Germany and the rest of the world, while performance in the United States will be somewhat weaker.

The outlook for Just Eat Takeaway

Just Eat Takeaway will maintain the outlook for 2021. Just Eat Takeaway said it would place more value on market share than on the modified EBITDA.

The deliverers are in a situation where it is important for them to achieve scale. Growth therefore comes before profitability.

Just Eat is somewhat behind its peers in this area, but it already has a good position in a number of countries. Despite it, the entire sector has performed poorly, but Just Eat has been a glimmer of weakness.

The meal deliverer expects order growth of more than 45 percent for the whole of 2021. The forecast does imply a substantial reduction in the growth in the number of orders in the second half of the year. Because of the predicted 851 million, 412 million have already been realised, so we still have 440 million to go in the second half of the year.

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